Combine water, sugar, and tea bags in a multi-functional pressure cooker (such as Instant Pot®). Close and lock the lid. Select high pressure according to manufacturer's instructions; set timer for 4 minutes. Allow 25 minutes for pressure to build.
Release pressure carefully using the quick-release method according to manufacturer's instructions, about 5 minutes. Unlock and remove the lid. Remove tea bags using a slotted spoon.
Add strawberries to a blender and puree until smooth.
Allow tea to cool completely. Stir strawberry puree into the cooled tea and serve over ice.